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Bg renewal

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(Querist)
08 August 2012 Dear All,

BG (Bank guarantee) issued by a bank should be on the stamp paper or franking.

Is it requires BG renewal also on Stamp paper?

Pls advice.

Thanks
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Amol S Joglekar

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Amol S Joglekar (Expert)
08 August 2012 BG should be properly stamped. The various ways of stamping are 1. franking 2 non judicial stamp paper 3. Adhesive stamps. It depends upon the convenience of the customer/ bank
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Krishna

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Krishna (Querist)
10 August 2012 Then if, Bank has provided BG renewal its letter head, is it valid?

Is it compulsory to insist BG renewal on Stamp paper OR Franking??

Pls advice.
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Krishna

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Krishna (Querist)
28 August 2012 Friends, Pls do the needful.
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Amol S Joglekar

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Amol S Joglekar (Expert)
29 August 2012 Both has same commercial value. Asthetically one may insist upon a particular form BUT legally both rank pari passu.
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